Centre warns AP govt on accounting frauds!


The Centre has warned Andhra Pradesh government against breaching established accounting norms and procedures in handling of funds from treasury department and financial mismanagement.

This follows complaint lodged by TDP senior leader and Public Accounts Committee (PAC) chairman Payyavula Keshav recently against YSRCP government over not accounting payments to the tune of over Rs 41,000 crore made to various purposes.

Although AP Chief Secretary and Finance principal secretary clarified to Centre that there was no financial mismanagement and that funds were transferred to PD accounts of various corporations, the Centre took the issue very seriously saying it amounts to flouting of accounting norms.

The Centre also expressed anger at AP government for breaching FRBM Act and availing Rs 17,000 crore excess loans from banks and financial institutions this year.

The Centre said it will cut AP’s borrowing limit accordingly for this year for availing loans over and above the permissible limits.

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